Bitcoin Spot ETFs hemorrhage $265 Million as Altcoin Funds Attract Modest Inflows

Bitcoin spot ETFs saw a significant decline in funds last week, while altcoin-related ETFs attracted modest inflows. According to data from SoSoValue on July 31, 13 Bitcoin spot ETFs reported net outflows of $265.37 million. In contrast, Ether and XRP spot ETFs drew in funds, with the former logging net inflows of $9.03 million and the latter attracting $7.69 million.

The data also revealed that nine Solana ETFs took in a relatively small amount of $395,390. Among the 12 cryptocurrency ETF categories tracked by SoSoValue, only Bitcoin and Hyperliquid saw money leave on the day. The other seven tokens, Chainlink, Hedera, Avalanche, Dogecoin, Polkadot, Litecoin, and BNB, had no inflows or outflows.

The heavy outflows from Bitcoin spot ETFs stand in stark contrast to the modest inflows seen in altcoin-related funds. This split in fund flows highlights the ongoing volatility and shifting investor sentiment in the cryptocurrency market.